Tuition for in-state students at the South Dakota School of Mines and Technology dropped by 13.8% during the 2022-23 academic year, as revealed in the latest institutional report, according to the latest disclosure from the National Center for Education Statistics.
Residents of South Dakota paid $10,440 to attend the public four-year university this year, which is $1,670 less than the $12,110 tuition fee charged in the 2021-22 academic year.
Non-resident students were charged 42.3% more than in-state students for the 2022-23 academic year, paying $14,860. This amount reflects a 10.1% reduction from the $16,530 tuition fee in the previous year.
Approximately 37% of the undergraduate student body at the school are South Dakota residents, while about 62% come from other states, and international students make up 1% of the population.
Data indicates that 95% of full-time undergraduates who enrolled in the 2022-23 year received some form of student financial aid. A total of 434 students were awarded grants or scholarships amounting to $2.1 million, and 283 students obtained student loans exceeding $2.2 million.
Among all undergraduate students, 1,397 received grants or scholarships totaling $9.4 million. Additionally, 936 students borrowed $5.7 million in federal student loans.
Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.
According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.
Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.
Available data sometimes exceeds 100% due to rounding and administrative calculations.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 93 | 18% | $487,866 | $5,246 |
| State / local grant or scholarship | 108 | 21% | $138,750 | $1,285 |
| Institutional grants or scholarships | 402 | 77% | $1.4 million | $3,565 |
| Grant or scholarship aid total | 434 | 83% | $2.1 million | $4,746 |
| Federal student loans | 278 | 53% | $1.4 million | $5,028 |
| Other student loans | 66 | 13% | $844,866 | $12,801 |
| Student loan aid | 283 | 54% | $2.2 million | $7,924 |
| Total student aid | 496 | 95% | $4.3 million | $8,673 |
